As Panasonic TVs flicker, new chief offers tough love
News On Japan via Reuters -- Jul 09
In today's world of fast gadgets and fickle consumers, managers at Panasonic Corp (6752.T), the sprawling, and struggling, Japanese electronics manufacturer, still refer to a 250-year business plan their founder wrote between the two world wars.
The 10-generation roadmap exhorted staff to end poverty and make consumer goods as abundant and cheap as tap water - but probably didn't envisage selling millions of TV sets at a loss.
Under a new president, 55-year-old Kazuhiro Tsuga, Panasonic is shaping up for a post-TV future, say company executives and industry analysts.
Inheriting combined losses of more than $15 billion in the past four years and a market value slump of more than 80 percent to below $20 billion, Tsuga has promised to revive Panasonic's fortunes as Japan's consumer electronics industry slips further behind nimbler rivals in South Korea and Taiwan.
The government of Japan has bestowed one of that nation's highest honors on a Japanese-American, a former U.S. Soldier and World War II veteran, for his work furthering relationships between the Japanese and Americans. (army.mil )
This Monday, members of the seminal metal band X Japan were in Odaiba rubbing shoulders with the likes of Brad Pitt, Lady Gaga and AKB48′s Yuko Oshima. The catch? They were all made out of wax. (Japan Times )